MyCompanyWorks LLC Service Review (Formerly MyNewCompany)
Since 2001, MyCompanyWorks has provided LLC formation and other legal services to over 50,000 businesses. There are 20+ services that will form your LLC online, but MyCompanyWorks has carved out a significant market share in the industry.
Like any company, they have their advantages and disadvantages, which is why this MyCompanyWorks LLC service review outlines everything you need to know before making use of their formation service.
Advantages & Disadvantages
Advantages of MyCompanyWorks:
– They get excellent feedback from their customers, with nearly perfect average ratings out of hundreds of online reviews.
– MyCompanyWorks returns most phone calls and emails in 20 minutes or less during business hours, while many competitors can take a full business day or longer to get back to you.
– Their $79 Basic package includes a personalized LLC operating agreement and organizational minutes, along with a compliance alert system that keeps you informed of important filing deadlines. Not many competitors can match this combination of features in their base-rate LLC service package.
Disadvantages of MyCompanyWorks:
– Their Entrepreneur ($199) and Complete ($279) packages bundle in some unnecessary features like a symbolic LLC kit and seal that no business actually needs.
– They only include registered agent service in their $279 Complete package, whereas some competitors bundle in a full year of registered agent with any LLC formation service. (Compare Top Services)
MyCompanyWorks LLC Packages
MyCompanyWorks offers 3 different levels of LLC service packages: Basic, Entrepreneur, and Complete. To review the complete details of each package, you can do so on their website.
Basic = $79 + State Fee
– Preparation and Filing of Your Articles of Organization: These are the documents required by your state of formation to officially form your LLC. MyCompanyWorks will draft these forms and then submit them to your state to create your company.
– Name Availability Search: They will search the business database operated by your state of formation in order to determine if your desired business name is available, or if it’s already claimed by another business.
– LLC Operating Agreement: This document lays out the ownership structure of your LLC, as well as providing information about how the company will be operated. MyCompanyWorks will draft this custom document for you.
– Organizational Minutes: LLCs are not required to take minutes of their meetings, but if you want to do so, they’ll include custom minutes forms so it’s easier for you to organize your meetings.
– Unlimited Phone & Email Support: Some competitors only offer phone support to customers who purchase higher-tier service packages, but MyCompanyWorks provides it to all customers.
– Company Alerts: They’ll set up a handy tool for you to keep track of your compliance deadlines and filing requirements. Never miss an important deadline again!
Entrepreneur = $199 + State Fee
Everything from the Basic package, plus…
– Federal Tax ID Number (EIN): This is essentially a Social Security Number for your business. An EIN allows you to hire employees, open business bank accounts, pay business taxes, and much more.
– LLC Kit and Seal: A symbolic feature that includes a binder with your company’s name on it, along with a decorative seal and some sample forms.
– MyCompanyForms Business Forms: More sample documents, with a library of 200+ commonly used business forms that you can customize.
Complete = $279 + State Fee
Everything from the Entrepreneur package, plus…
– One Year Registered Agent Service: If you operate an LLC anywhere in America, you must designate a registered agent for your company. This is an individual or a business entity that agrees to receive important document deliveries from the state on your behalf. This is a vital part of any LLC because without a registered agent, the state has no reliable way to contact your business.
MyCompanyWorks Customer Reviews
MyCompanyWorks is an experienced LLC formation service provider, so it’s no surprise that there’s quite a few customer reviews to be found online. In fact, there’s well over 2,000 individual reviews available.
All of the MyCompanyWorks customer reviews are available on Shopper Approved. It’s highly recommended to take the time to skim through some of that feedback yourself, but their customers generally praise the accessibility of their support reps and how valuable their base-rate service plan is.
Long story short, MyCompanyWorks maintains fantastic average scores with their online customer reviews. Most entrepreneurs are quite pleased with their decision to use their LLC formation service.
– Shopper Approved: 4.8 out of 5 stars (2,199 reviews)
Is There a Better MyCompanyWorks Alternative?
We like what MyCompanyWorks has to offer entrepreneurs looking for affordable LLC formation services. Still, there are dozens of companies providing this service these days, so if MyCompanyWorks doesn’t feel like the right fit, we can probably find an alternative that does.
Our favorite alternative to MyCompanyWorks is IncFile. IncFile’s starting price point of $49 is fantastic, and that package even includes a full year of registered agent service ― although they don’t include a custom LLC operating agreement like MyCompanyWorks does.
IncFile and MyCompanyWorks are both great choices, but IncFile gets the nod in our book. Their prices are lower and their top-shelf packages have more valuable features.
Is MyCompanyWorks Right For You?
In general, MyCompanyWorks is a solid LLC formation service, with more pros than cons to their services. Here are some guidelines regarding whether it’s a good idea for you to use MyCompanyWorks.
When to Use MyCompanyWorks:
If you place a high value on customer service and client feedback, MyCompanyWorks is a great option. Also, if you want a customized LLC operating agreement, they’re a strong choice.
When NOT to Use MyCompanyWorks:
Need to save a bit more money, or bundle in some more advanced features? There’s ways to do that with other service providers.
MyCompanyWorks is a strong contender to provide LLC formation service for your company. As we’ve seen, you can save some money with a provider like IncFile, but there aren’t many arguments to be made against MyCompanyWorks in general.
Frequently Asked MyCompanyWorks Questions
Does MyCompanyWorks Offer Any Discounts?
We couldn’t find any active discounts, but MyCompanyWorks offers low enough rates without them.
Does MyCompanyWorks Have Good Customer Support?
MyCompanyWorks has strong customer service because they keep it all in-house. When you call them, you don’t get transferred to an anonymous call center, you speak with a knowledgeable MyCompanyWorks employee.
Do They Have a Refund Policy?
Depending on the status of your order when you request your refund, you will receive the total order amount minus a $25, $50, or $75 processing fee. Once your documents have been shipped to the state, refunds are no longer available.
Can I Form an LLC on My Own?
You certainly can, and actually quite a few entrepreneurs do form their own LLCs. The issue is that it can be a real hassle, especially considering the fact that each state has different rules and regulations regarding LLC formation. On the other end of the spectrum, you could hire a lawyer to form your company, but that’s going to cost much more money than an online LLC service.